BNP Paribas, Credit Suisse sound a note of caution on record market run

A slowing economy hasn’t stopped India’s benchmark equity index from climbing to a series of records this year, but this divergence may have run its course, according to BNP Paribas.

Asia’s third-biggest economy probably grew 4.6 per cent last quarter, which would be the slowest since the first three months of 2013, according to a Bloomberg survey ahead of Friday’s data release. Meanwhile, the Sensex closed at a new high on Wednesday and is up nearly 14 per cent for 2019. Stocks have climbed mainly since late September, when the unveiling of a corporate tax cut boosted the outlook for corporate